SOCAR launches a new project with a UK company


February 8, Fineko/ SOCAR Türkiyə is discussing with British company Ineos the construction of a new petrochemical complex (project Mercury), which it plans to implement in the Aliaga region of the Turkish city of Izmir.

ABC.AZ reports with reference to Bloomberg that the relevant statement was made by Anar Mammadov, the head of petrochemical association SOCAR-Türkiyə and general director of Petkim.

According to Mammadov, earlier SOCAR Türkiyə discussed the implementation of this project with BP. But last year, BP withdrew from all petrochemical projects and sold its assets to Ineos: "Ineos can become our partner in this project."

Mammadov also pointed out that SOCAR continues negotiations with Ineos about this project. Making of a feasibility study of the project and completion of other technical works are expected in Q2 of 2020.

"We expect the two companies will agree and make this decision," Mammadov underlined.